Financial Statement Preparation Service at PDP TAX
1. What are Financial Statements? What is needed for fast, accurate, and time-saving financial reporting?
Financial statements are documents that summarize and present information about the financial situation, business performance results, and cash flow of an enterprise over a specific period. This is a crucial tool helping stakeholders, such as managers, investors, tax authorities, banks, and shareholders, to better understand the financial health and operational efficiency of the business.
Preparing financial statements is not only a legal requirement but also a vital step for businesses to evaluate business operations while avoiding risks during tax inspections and settlements. If your business has not finalized its financial statements and accounting books, this can lead to unnecessary complications.
2. 4 Reasons Why Enterprises SHOULD Choose PDP TAX?
- Ensure Legal Compliance: Financial statements need to be prepared in accordance with accounting standards and current tax regulations. Compliance not only helps businesses avoid unnecessary errors but also minimizes the risk of administrative penalties. Professional services ensure that all processes are carried out transparently and legally.
- Save Time: Instead of focusing on complex financial tasks, businesses can allocate resources to develop core business activities. Using professional financial reporting services frees up time and effort, bringing higher efficiency to the enterprise.
- Cost Optimization: Maintaining a separate accounting department requires significant costs, including salaries, equipment, and other management expenses. Outsourcing services not only reduces operating costs but also brings better economic efficiency, especially for small and medium-sized enterprises (SMEs).
- Limit Risks: Financial statements prepared by a team of experienced experts ensure high accuracy, thereby limiting serious errors. This helps businesses avoid unwanted consequences and build a reputable image with partners, tax authorities, and investors.
3. Highlights of Financial Statement Services at PDP TAX
- Experienced Accounting Team: Our team of experts has extensive knowledge of accounting standards and tax laws, committed to providing optimal solutions for your business.
- Use of Modern Technology: Advanced software systems help accelerate the processing speed, ensuring accuracy and absolute security for customer data.
- Transparent Process: We ensure that every step in the working process is carried out publicly, clearly, and adheres strictly to customer requirements.
- High Security Policy: Understanding the importance of financial information, we commit to absolute confidentiality of all business data.
4. Financial Reporting Service Packages at PDP TAX
- Year-end Financial Statements: Full and accurate summary of the enterprise’s financial situation.
- Cash Flow Statement: Manage cash inflows and outflows more effectively.
- Income Statement: Accurately evaluate revenue, profit, and operational efficiency.
- Balance Sheet: Help businesses understand assets and capital sources clearly.
See more: Accounting Book Review Service
5. Financial Statement Preparation Process at PDP TAX
- Free Consultation: Customers are consulted in detail by experts about the service and necessary requirements for financial statements.
- Data Collection: We receive all information, vouchers, and financial data from the enterprise.
- Analysis and Reporting: Based on the collected data, we synthesize, analyze, and prepare accurate financial statements on time.
- Check and Handover: The report is thoroughly checked before being handed over to the customer to ensure no errors occur.
- Post-service Support: We are ready to answer any questions or make edits upon request to ensure customer satisfaction.
6. Checklist of Documents Enterprises Need to Prepare When Using “Financial Statement Preparation” Service at PDP TAX
1. Accounting Records
a. Accounting books:
- General Journal.
- General Ledger of accounting accounts.
- Detailed books of receivables, payables, inventory, fixed assets, etc.
b. Account Balance Sheet:
- Trial Balance of accounts (summary data for the whole year).
2. Accounting Vouchers
a. Invoices and documents:
- Sales and purchase invoices.
- Expense invoices (electricity, water, internet, office rent, etc.).
b. Receipts and Payment Vouchers:
- Cash receipts.
- Payment vouchers.
c. Bank Documents:
- Bank account statements.
- Payment orders, credit notes, debit notes.
3. Records Related to Labor and Wages
- List of employees: Labor contracts, salary decisions, timesheets.
- Payroll: Detailed salary calculation sheets and deductions for social insurance, health insurance, unemployment insurance.
- PIT documents: Papers related to deduction and payment of Personal Income Tax.
4. Tax Records
- VAT Declaration (if any): Copies of monthly or quarterly Value Added Tax declarations.
- CIT Declaration: Quarterly provisional Corporate Income Tax declarations (if any).
- Tax Settlement Records: Copies of previous years’ tax settlements (if the business has been operating for a long time).
5. Assets and Inventory Records
- Fixed Asset Inventory Minutes: Details of assets, value, usage time.
- Inventory Count Minutes: Statistics of goods and raw materials at the end of the period.
- Asset Lease Contracts (if any): Contracts related to outsourced offices, machinery, and equipment.
6. Other Documents (If Any)
- Economic Contracts: Sales contracts, service provision contracts.
- Previous Year’s Financial Statements: (if any) for reference and data comparison.
- Establishment Decision, Business Registration Certificate: Legal documents of the enterprise.
7. Benefits of Using Services at PDP TAX
- On-time Delivery: Complete reports on time, helping businesses submit files promptly.
- Absolute Accuracy: Minimize errors in financial statements, ensuring credibility with tax authorities.
- Reasonable Cost: Services suitable for all types of businesses, from small to large.
- Increase Business Value: Transparent financial statements help businesses easily call for investment and develop sustainably.
8. Contact PDP TAX Today!
If you need a reputable partner to support financial reporting, let PDP TAX accompany you.
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